Bangalore: Bad news folks! Fresh hiring is at an all time low and to rub salt on the wounds; sluggish economy has made matters even worse and for the first time India Inc is forced to acknowledge that large-scale layoffs are already in progress. And the job market in all probability is likely to get much shoddier if growth isn't revived at the earliest, as reported by Vikas Dhoot of ET Bureau.

As per Naina Lal Kidwai, President, FCCI, expulsion of contractual staff is already in progress and this possibly will soon move to permanent employees. And she added that with the slowdown becoming more apparent, fresh hiring is already taking a beating and unless the growth curve is overturned, we will have to face a grim employment scenario.

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